Expansion of Medicaid will cost Iowa taxpayers more than it needs to
Currently Iowa has 400,000 people enrolled in Medicaid. The Fiscal Year 14 estimate is that this will cost $ 1.5 billion. This is $88.5 million more than last year. Medicaid costs grow every year regardless if expansion is approved or not. Since 2000, Medicaid enrollment is up 88 percent and Medicaid expenditures are up 226 percent. With or without Obamacare, the cost of Medicaid is going up.
There are between 51,000 and 82,000 people currently eligible for Medicaid but who are not enrolled. The state is required to pay for these people at the current rate with or without Obamacare. These people are not among the new enrollees, which the federal government promises to cover at 100 percent for three years. So, the cost goes up again. Under Obamacare, these people not only have to have insurance but they have to be enrolled in Medicaid. Adding them is estimated to cost between $327 million and $564 million.
Finally, you have 150,000 people who will become newly eligible for Medicaid under Obamacare. The federal government promises to pay 100 percent of the cost for these people for three years. After that it will be: 95 percent in 2017; 94 in 2018; 93 in 2019; and 90 in 2020 and beyond.
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